IMF-Supported Programs in Low Income Countries - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook IMF-Supported Programs in Low Income Countries write by Mr.Christian Mumssen. This book was released on 2014-01-15. IMF-Supported Programs in Low Income Countries available in PDF, EPUB and Kindle. This paper studies the short and longer-term impact of IMF engagement in Low-Income Countries (LICs) over nearly three decades. In contrast to earlier studies, we focus on a sample composed exclusively of LICs and disentangle the different effects of IMF longer-term engagement and short-term financing using a propensity score matching approach to control for selection bias. Our results indicate that longer-term IMF support (at least five years of program engagement per decade) helped LICs sustain economic growth and boost resilience by building fiscal buffers. Interestingly, the size of IMF financing has no significant impact on economic growth, possibly pointing to the prominent role of IMF policy advice and institutional capacity building in the context of longer-term engagement. We also present evidence that the short-term IMF engagement through augmentations of existing programs or short-term and emergency facilities is positively associated with a wide range of macroeconomic outcomes. Notably, the IMF financial support has the greatest impact on short-term growth when LICs are faced with substantial macroeconomic imbalances or exogenous shocks.
IMF-Supported Programs and Income Convergence in Low-Income Countries
IMF-Supported Programs and Income Convergence in Low-Income Countries - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook IMF-Supported Programs and Income Convergence in Low-Income Countries write by Tejesh Pradhan. This book was released on 2018-12-13. IMF-Supported Programs and Income Convergence in Low-Income Countries available in PDF, EPUB and Kindle. Continuing the empirical debate on the effects of IMF-supported programs on participating countries’ macroeconomic performance, we focus on the issue of whether these programs accelerate conditional ß-convergence among low-income countries (LICs). We use an unbalanced panel dataset for 85 LICs over the period 1986-2015 and employ two different econometric methods to address the selection bias problem. Our empirical results suggest that the rate of conditional income per capita convergence is faster among LICs with extended IMF support than that in countries without support or with intermittent support.
Repeated Use of IMF-Supported Programs: Determinants and Forecasting
Repeated Use of IMF-Supported Programs: Determinants and Forecasting - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Repeated Use of IMF-Supported Programs: Determinants and Forecasting write by Martin Iseringhausen. This book was released on 2019-11-08. Repeated Use of IMF-Supported Programs: Determinants and Forecasting available in PDF, EPUB and Kindle. This paper studies the determinants of repeated use of Fund-supported programs in a large sample covering virtually all General Resources Account (GRA) arrangements that were approved between 1952 and 2012. Generally, the revolving nature of the IMF’s resources calls for the temporary sup-port of member countries to address balance of payments problems while repeated use has often been viewed as program failure. First, using probit models we show that a small number of country-specific variables such as growth, the current account balance, the international reserves position, and the institutional framework play a significant role in explaining repeated use. Second, we discuss the role of IMF-specific and program-specific variables and find evidence that a country’s track record with the Fund is a good predictor of repeated use. Finally, we conduct an out-of-sample forecasting exer-cise. While our approach has predictive power for repeated use, exact forecasting remains challenging. From a policy perspective, the results could prove useful to assess the risk IMF programs pose to the revolving nature of the Fund’s financial resources.
IMF-Supported Programs
IMF-Supported Programs - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook IMF-Supported Programs write by Mr.Ashoka Mody. This book was released on 2006-04-03. IMF-Supported Programs available in PDF, EPUB and Kindle. Research work by the IMF’s staff on the effectiveness of the country programs the organization supports, which has long been carried out, has intensified in recent years. IMF analysts have sought to “open up the black box” by more closely examining program design and implementation, as well as how these influence programs’ effectiveness. Their efforts have also focused on identifying the lending, signaling, and monitoring features of the IMF that may affect member countries’ economic performance. This book reports on a large portion of both the new and the continuing research. It concludes that IMF programs work best where domestic politics and institutions permit the timely implementation of the necessary measures and when a country is vulnerable to, but not yet in, a crisis. It points to the need for a wider recognition of the substantial diversity among IMF member countries and for programs to be tailored accordingly while broadly maintaining the IMF’s general principle of uniformity of treatment.
Do IMF-Supported Programs Work? A Survey of the Cross-Country Empirical Evidence
Do IMF-Supported Programs Work? A Survey of the Cross-Country Empirical Evidence - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Do IMF-Supported Programs Work? A Survey of the Cross-Country Empirical Evidence write by International Monetary Fund. This book was released on 1998-12-01. Do IMF-Supported Programs Work? A Survey of the Cross-Country Empirical Evidence available in PDF, EPUB and Kindle. Over the last two decades a number of cross-country empirical studies have been undertaken to assess whether IMF-supported adjustment programs have led to an improved balance of payments and current account balance, lower inflation, and higher growth. These studies use a variety of methodologies and cover different country samples and time periods. This paper critically surveys the evidence yielded by the cross-country studies, paying special attention to the pros and cons of the respective empirical methodologies employed. These studies, particularly the more recent ones, conclude that IMF-supported programs have generally been successful in stabilizing the economy.
